In episode #79 of the Be Better Off Show, I speak with Peter Ritchie AO, the visionary who brought McDonald’s to Australia and transformed it into a powerhouse. We discuss leadership, overcoming challenges, and the impact of investing in people.

1. The value of risk-taking
   Peter’s journey with McDonald’s Australia started with an unexpected opportunity. Despite initial doubts, he took a leap of faith, setting the foundation for a transformative career.
2. Courage in leadership
   Peter emphasised that true leadership means accepting full responsibility while maintaining consistency, fairness, and justice. Leaders must project energy and foster environments where teams thrive.
3. The importance of training
   Confronted with high labour costs, Peter committed up to 30% of annual profits to training for five years. This strategy turned McDonald’s Australia into a global benchmark for productivity.
4. Building confidence through competence
   Peter stressed that genuine self-confidence in leadership comes from deep competence, cultivated through structured training, feedback, and measurable outcomes.
5. Turning failure into success
   It took McDonald’s Australia seven years to become profitable. Peter’s perseverance, backed by key figures like Fred Turner, enabled the company to overcome challenges and succeed.
6. The power of collaboration
   By involving partners, franchisees, and mentors, Peter ensured McDonald’s was built on strong relationships that fostered shared growth and success.
7. Adaptability and innovation
   Peter attributed McDonald’s success to its willingness to test, learn, and pivot—such as recognising the pivotal role of marketing in the late 1970s.
8. Focus on values
   Peter’s commitment to community and philanthropy is exemplified by his role in establishing Ronald McDonald House Charities in Australia, which continues to support families of sick children.
9. Visionary leadership
   Peter’s forward-thinking approach turned McDonald’s Australia from struggling stores into an industry leader by embracing global best practices and planning for the long term.
10. Lessons in humility
    Despite his extraordinary achievements, Peter remains grounded, acknowledging the contributions of his team and the ongoing lessons he learns from others.